[Federal Register Volume 71, Number 2 (Wednesday, January 4, 2006)]
[Notices]
[Pages 383-384]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 06-8]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 34805]


Ispat Inland Holding Inc. (U.S.)--Acquisition of Control 
Exemption--ISG Railways Inc., ISG South Chicago & Indiana Harbor 
Railway Co., and ISG Cleveland Works Railway Co.

    Ispat Inland Holding Inc. (U.S.) (Ispat), a noncarrier, has filed a 
verified

[[Page 384]]

notice of exemption to acquire control of the following three 
railroads: (1) ISG Railways, Inc. (ISGR); (2) ISG South Chicago & 
Indiana Harbor Railway Co. (ISG/SCIH); and (3) ISG Cleveland Works 
Railway Co. (ISG/CWRC) (collectively, ISG Railroads). ISG/SCIH and ISG/
CWRC are Class III railroads and ISGR is a Class II railroad, operating 
in Maryland, Delaware, Indiana, Pennsylvania, Illinois, and Ohio.
    The transaction was scheduled to be consummated on or after 
December 22, 2005, the effective date of the exemption (7 days after 
the exemption was filed).
    Ispat states that this is a corporate family transaction that does 
not result in adverse changes in service levels, significant 
operational changes, or a change in the competitive balance with 
carriers outside the corporate family. As a result of this transaction, 
Ispat will acquire control of ISG Railroads, pursuant to a corporate 
restructuring by Mittal Steel Company N.V. (Mittal Steel). Mittal Steel 
indirectly controls both Ispat and ISG Railroads.\1\ Ispat will also 
acquire Mittal Steel USA ISG, Inc. (Mittal/ISG), which controls the ISG 
Railroads.\2\ Ispat and Mittal/ISG are indirect subsidiaries of Mittal 
Steel. Mittal/ISG will continue to be an indirect subsidiary of Mittal 
Steel. The transaction does not involve a Class I carrier. Therefore, 
the transaction is exempt from the prior approval requirements of 49 
U.S.C. 11323. See 49 CFR 1180.2(d)(2).
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    \1\ Mittal Steel acquired control of ISG Railroads from the 
International Steel Group Inc. (ISG), in Mittal Steel N.V.--
Acquisition of Control Exemption--ISG Railways Inc.,--ISG South 
Chicago & Indiana Harbor Railway Co., and ISG Cleveland Works 
Railway Co., STB Finance Docket No. 34650 (STB served May 3, 2005).
    \2\ Through a corporate name change, ISG has become Mittal/ISG.
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    Under 49 U.S.C. 10502(g), the Board may not use its exemption 
authority to relieve a rail carrier of its statutory obligation to 
protect the interests of its employees. Because this transaction 
involves the control of one Class II carrier and two Class III 
carriers, this grant will be made subject to labor protection 
requirements of 49 U.S.C. 11326(b).
    If the verified notice contains false or misleading information, 
the exemption is void ab initio. Petitions to revoke the exemption 
under 49 U.S.C. 10502(d) may be filed at any time. The filing of a 
petition to revoke will not automatically stay the transaction.
    An original and 10 copies of all pleadings, referring to STB 
Finance Docket No. 34805, must be filed with the Surface Transportation 
Board, 1925 K Street, NW., Washington, DC 20423-0001. In addition, a 
copy of each pleading must be served on Jeffrey O. Moreno, Thompson 
Hine LLP, 1920 N Street, NW., Suite 800, Washington, DC 20036.
    Board decisions and notices are available on our Web site at http://www.stb.dot.gov.

    Decided: December 23, 2005.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 06-8 Filed 1-3-06; 8:45 am]
BILLING CODE 4915-01-P